Brightstar Lottery (NYSE:BRSL) Hits New 12-Month Low – Time to Sell?

Brightstar Lottery (NYSE:BRSL) shares reached a new 52-week low during trading on Thursday . The company traded as low as $9.81 and last traded at $9.8450, with a volume of 602100 shares trading hands. The stock had previously closed at $10.26.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BRSL shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Brightstar Lottery in a report on Friday, July 10th. Jefferies Financial Group raised Brightstar Lottery from a “hold” rating to a “buy” rating and raised their price target for the stock from $12.00 to $16.00 in a research report on Thursday, August 13th. Argus cut Brightstar Lottery from a “buy” rating to a “hold” rating in a report on Monday, June 29th. Deutsche Bank Aktiengesellschaft began coverage on Brightstar Lottery in a research report on Wednesday, July 1st. They issued a “buy” rating and a $15.00 price objective for the company. Finally, Truist Financial lowered their target price on Brightstar Lottery from $14.00 to $13.00 and set a “hold” rating for the company in a research note on Monday, July 20th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $15.10.

Brightstar Lottery Price Performance

The company has a 50 day simple moving average of $10.96 and a 200-day simple moving average of $11.60. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 7.53, a P/E/G ratio of 4.25 and a beta of 1.03. The company has a current ratio of 1.10, a quick ratio of 1.00 and a debt-to-equity ratio of 2.16.

Brightstar Lottery (NYSE:BRSL) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.12. The company had revenue of $584.00 million during the quarter. Brightstar Lottery had a return on equity of 10.47% and a net margin of 10.05%. Research analysts expect that Brightstar Lottery will post 0.35 EPS for the current year.

Brightstar Lottery Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $0.92 dividend on an annualized basis and a yield of 9.4%. Brightstar Lottery’s dividend payout ratio is 70.77%.

Institutional Trading of Brightstar Lottery

A number of hedge funds and other institutional investors have recently made changes to their positions in BRSL. BlackRock Inc. lifted its position in shares of Brightstar Lottery by 16.5% in the second quarter. BlackRock Inc. now owns 6,785,934 shares of the company’s stock worth $72,745,000 after purchasing an additional 961,306 shares in the last quarter. Brown Advisory Inc. bought a new position in Brightstar Lottery in the fourth quarter valued at $44,820,000. Royce & Associates LP bought a new position in Brightstar Lottery in the fourth quarter valued at $24,887,000. Norges Bank acquired a new stake in Brightstar Lottery in the 4th quarter valued at $19,565,000. Finally, Bank of America Corp DE increased its stake in Brightstar Lottery by 17.3% in the 1st quarter. Bank of America Corp DE now owns 1,031,022 shares of the company’s stock valued at $13,135,000 after buying an additional 151,839 shares during the last quarter. 44.33% of the stock is currently owned by institutional investors and hedge funds.

About Brightstar Lottery

Brightstar Lottery plc (NYSE: BRSL) is a global lottery technology and services company. The company provides solutions for government-sponsored and regulated lotteries, including lottery systems, retail terminals, draw-based games, instant-ticket products and digital lottery platforms.

Its services support the operation and management of lottery programs across retail and online channels. Brightstar Lottery also provides related technology, transaction processing, content, player engagement and lottery-management services designed to help customers operate secure and efficient gaming programs.

The company was formed from the lottery business formerly operated by International Game Technology (IGT) and serves lottery operators in multiple international markets, including North America, Europe and other regions.